Perspective and the Dollar-

Posted by Chris Kimble on 06/15/2011 at 6:58 am; This entry is filed under Dollar Update.

 

Last week I shared that the Dollar had created a bullish falling wedge at Fibonacci support and looked to be breaking out from this bullish pattern (see post here).  The chart below was created around 6 a.m. central this morning, so the day is long from over.

Did anyone notice the Dollar didn't fall much yesterday?  

CLICK ON CHART TO ENLARGE

Keep an eye on the Dollar today to see if it can get past short-term resistance at (2).  Should the Dollar reach the 76.50 level, I suspect yesterdays rally won't look that impressive in the big picture.

 

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2 Comments

  1. Grasshopper..ds June 15th, 2011 at 8:41 am

    Good going Chris… I like the dollar up…it’s good for shorting.
    Great charating..
    fr Denis

  2. Chris Kimble June 15th, 2011 at 11:09 am

    Denis…Thanks for the kind comments. I remain of the belief, focus and get the currencies correct and portfolio construction gets easier.
    Chris